Helium [HNT] has once again made it to the top gainers of the week, marking its second strong performance this month.
On the contrary, Dogwifhat [WIF] ended the week as the biggest loser, showing the volatility in the market.
Interestingly, no memecoins appeared among the top gainers of the past week, marking a notable change in market dynamics.
The coins with the strongest price increase
Helium [HNT]
HNT has emerged as the biggest winner of the past week. According to data from CoinMarketCap, HNT recorded an impressive 19.5% gain, marking a strong performance.
Helium’s daily timeframe trend analysis shows that the week started with a significant 8% drop, taking its price from around $6.6 to $6.0.
However, Helium recovered the next day with a significant 14% gain, pushing its price to around $6.9.
Although the token experienced some fluctuations throughout the week, it ended the week with another 14% gain, closing the week at around $7.6.
HNT/USDT Daily Chart | Source: TradingView
Further analysis shows that HNT is in a strong uptrend at the time of writing, with the Relative Strength Index (RSI) around 70.
This trend also suggests that the asset is overbought.
This strong buying has pushed Helium's market capitalization above $1.2 billion, with trading volume exceeding $24.5 million as of writing.
Aave [AAVE]
Aave [AAVE] made a strong comeback last week, ending the week as the second biggest winner.
According to data from CoinMarketCap, AAVE has increased by nearly 18% over the past week.
AAVE price trend analysis shows that it started the week at around $94.
The token experienced a strong bullish momentum throughout the week, pushing its price to around $111 by the end of the week.
Notably, AAVE reached a high of $115 last week before retreating to around $111.
At the time of writing, AAVE's market capitalization is over $1.6 billion, with trading volume exceeding $131 million.
However, it is worth noting that both market capitalization and volume have decreased over the past 24 hours. This could indicate some profit-taking or a pause after the strong rally.
Overall, AAVE's impressive gains underscore its resilience and renewed investor interest after a difficult period.
THORChain [RUNE]
THORChain [RUNE] has emerged as the third-biggest gainer of the week, with a price increase of over 17.8% according to data from CoinMarketCap.
Price analysis shows that RUNE started the week at around $3.4 but experienced early drops. However, the token price recovered during the week and was trading near $4 by the end of the week.
At the time of writing, RUNE has dropped slightly to around $3.9. Despite this minor correction, its market capitalization has increased significantly by more than 7% in the past 24 hours, bringing it above $1.3 billion.
However, trading volume has dropped more than 10% over the same period, now standing at more than $150 million.
This drop in volume could indicate that while there was strong buying activity at the beginning of the week, it has tapered off, potentially leading to an accumulation phase for RUNE.
The positive growth in its market capitalization shows sustained interest in the token, even as trading activity slows down.
The biggest losers
Dogwifhat [WIF]
Dogwifhat [WIF] had a challenging week, ending as the biggest loser by dropping over 23.8% according to data from CoinMarketCap.
WIF's daily timeframe analysis shows that it has been experiencing steady declines for most of the past week.
The week started with a sharp drop of 10.25%, bringing its price down to around $1.62.
WIF/USDT Daily Chart | Source: TradingView
Although WIF had a brief recovery the following day, with a 5% increase pushing its price to around $1.7, this uptrend did not last.
The token then went into a downward spiral, experiencing four consecutive days of decline. By the end of the week, WIF was trading at around $1.4, despite a small 1.94% gain in the last trading session.
A deeper analysis of WIF's Relative Strength Index (RSI) shows that it is below 40, signaling that WIF price is in a downtrend.
This reflects strong selling pressure and lack of buying momentum, contributing to its significant weekly loss.
At the time of writing, dogwifhat's market capitalization is around $1.4 billion, with a trading volume of over $226 million.
Brett [BRETT]
Brett [BRETT] recorded a significant drop of more than 20.6% over the past week, becoming the second-worst-performing token, according to data from CoinMarketCap.
Analysis of BRETT price action shows that it started the week at around $0.099 but faced a bearish trend throughout the week.
The token started the week on a downward trend and continued to lose value, ending the week at around $0.079. This continuous decline underscores the negative sentiment surrounding BRETT.
Additionally, BRETT's market cap and trading volume have decreased over the past 24 hours, with the current market cap at over $786 million and trading volume around $18 million.
MANTRA [ON]
MANTRA [OM] ranked third among the worst-performing tokens of the past week, experiencing a drop of more than 16%, according to data from CoinMarketCap.
The token started the week trading at around $1, but fell steadily throughout the week, ending at around $0.9.
This bearish trend was also accompanied by a decline in market capitalization and trading volume.
At the time of writing, MANTRA’s market capitalization is over $753 million, reflecting a drop of over 1% over the past 24 hours. Its trading volume has plummeted by over 20%, currently sitting at over $15 million.
Conclude
This is a weekly summary of the top gainers and losers. It is important to note that the market is highly volatile, where prices can change rapidly.
Therefore, it is best to do your own research (DYOR) before making any investment decisions.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
